1. Highly visible project objectives 2. improved PM control over resources 3. more support from functional areas 4. max usage of scare resources 5. better coordination 6. better horizontal and vertical dissemination of info 7. team members have a

Matrixed organizations have what disadvantages?

1. extra administration 2. more than one boss 3. more complex to monitor and ctrl 4. tougher problems with resource allocation 5. need extensive policies and procedures 6. Functional Mgrs may have different priorities than PM 7. higher potential

Objectives are determined in the _______________ and refined in ______________.

1. Initiating 2. planning process groups

Objectives can be described as...?

1. contained in the project charter 2. project complete when objectives are met 3. reason to terminate project is that objectives cannot be met 4. PMs role to accomplish objectives 5. there are trade-offs between requirements and objectives

Point where project effort is reassessed to change or terminate the project is called what?

1. End of Project Phase 2. Also known as Kill Points

Portfolio is defined as...?

Collection of projects or programs grouped to facilitate managements to meet strategic goals.

Portfolio management is defined as...?

Centralized management of one or more portfolios, which includes identifying, prioritizing, authoring, managing and controlling projects, programs and other related work, to achieve specific strategic business objectives.

If the strategic goals of the business change, would Scope change as well?

1. Generally sequential, non-overlapping phases 2. Last phase is generally it's final 3. a Project Lifecycle is contained within one or more product life cycles

Product life cycle: What transfers between project and operations at several points of product life cycle.

1. Resources 2. deliverables 3. knowledge

Program can be described as having what attributes?

1. Always has projects within its structure 2. Success is measured by the degree to which the project satisfies the needs for which it was undertaken 3. The Scope of a program has a larger scope than projects and provides more significant benefits.

Progressive elaboration of project management plan has what benefit?

Allows project management team to manage to a greater level of detail as the project evolves.

Project Coordinator can be described as…?

1. similar to expediter, but has some power 2. has some authority and reports to higher level of manager

1. Life Cycle Approach - project life cycle for what you need to complete the work 2. Project Management Methodology / process for managing the project; Many different type , depending on industry; Covers control and deliverables

Stakeholders: What are some of the actions that must be taken with stakeholders?

1. Identify all of them early in the project 2. Determine their requirements and expectations 3. Communicate with them 4. Manage their influence 5. Use them as experts

Stakeholders: Who are the project stakeholders?

Anyone whose interests are affected positively or negatively by the project, or that can exert influence over the project. Can be identified throughout the project but an effort to be identified in early stages of the project should be made.